Litecoin Price Analysis: LTC Coin Price Is Ready To Jump Above $200

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  • LTC coin price is currently seeing a strong upside momentum and can soon cross above $200. It is up by more than 1% in the past 24 hours.
  • There is a strong formation of bullish patterns which can act as a strong catalyst for the price. In contrast, LTC/BTC pair has also been up by more than 0.4%

LTC coin price is currently seeing a strong upside momentum and can soon see a new high in the future. Litecoin’s price has seen a gain of more than 1% in the intraday session and is trading near the value of $170. It has an ROI of more than 18000% which has benefitted various investors for a long time. The coin price is down by 58% from its all-time high. The upside momentum can soon push the price to a new high. One can forecast a strong upside momentum in LTC price and can soon see a new high in the price.

Litecoin price is seeing a strong recovery in price and the market dominance along with the market cap can also attain the previous levels. The volume of the asset is also seeing a strong surge which can push the price to a new high. Volume to market cap ratio of the LTC suggests a strong upside momentum in the price for the price,

LTC Coin Price Bulls Might Push It To A New High

Source: Trading view

LTC coin price weekly technical chart suggests a strong upside momentum for the future. It is up by more than 7% in the past weeks. On the daily chart, coin price has formed a strong bearish engulfing pattern. The hostile region of Litecoin might be seen near $200. The support of the coin can be seen near $100. The coin price is currently trading in between 50 and 100 Daily Moving Average. The 50MA line of the coin price is near $175 acting as a temporary resistance for the price.LTC/BTC pair can also see a new high in the upcoming weeks. One can invest in Litecoin as per their needs and risk adversity. 

Conclusion

Litecoin price is currently seeing a strong bullish trend and can soon push the price for a new high.LTC/BTC pair can also see a new high in the upcoming days.

Technical Levels

Major Resistance: $200
Majo Support:$120

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